Is High Yield High Risk? A Primer on Municipal High Yield
Overview
Headlines about the financial stress on municipalities — combined with high profile downgrades, defaults and even bankruptcies — have led many to believe that high yield issuers must be in financial distress. The author, Nuveen Asset Management, believes that is generally not the case and explains why in this paper.
Nuveen believes that thorough fundamental research can help an investor understand risks and identify opportunities and capitalize upon the inefficiencies in this misunderstood asset class.